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Price and trend forecast of WELCORP for Tomorrow, Weekly, Monthly

Welspun Corp Limited

Symbol: NSE:WELCORP

ISIN: INE191B01025

609.80

As on 2024-05-17

230.35 (52W Low) 623.90 (52W High)

WELCORP's Today's Performance

Welspun Corp Limited started the day by opening at 605.00 today 2024-05-17. Its shares reached a high of 618.55 and dipped to a low of 598.15 in intraday. When the markets closed, WELCORP’s stock price settled at ₹609.80 per share. Also check out its key support and resistance levels.

WELCORP Buy/Sell Targets

Tomorrow, buy WELCORP when its price reaches ₹ 609.80 with a stop-loss order at ₹ 600.92. You can set the target price as ₹ 618.68 to capture potential gains. This buy position balances the risks and rewards evenly, aiming for a 1:1 risk-reward ratio.

In the sections below, we will discuss detailed share price target of WELCORP for tomorrow's session along with weekly levels. Please note that these share targets analysis is only valid for tomorrow and the current trading week and month.

Important Down levels for WELCORP

Downside Targets Value in ₹
Tomorrow Down Target 1 620
Tomorrow Down Target 2 629
Tomorrow Down Target 3 640

Important Levels for WELCORP

Holding Levels Value in ₹
Tomorrow Up Target 1 599
Tomorrow Up Target 2 588
Tomorrow Up Target 3 579
Based on where the stock opens tomorrow, if WELCORP opens on a positive note, our first target will be ₹620. If Target 1 is achieved, we will aim for Target 2 which is ₹629.

But if WELCORP falls below the average value of ₹608.83, you can enter a sell side position with target number 1 - ₹599 and second target - ₹588 This average value also act as support and resistance level. When the stock is trading above the average, it will act like support area. Another important thing is, stocks usually get back to this average value when the price trades too far from avg. In simpler words we can consider the average price as a magnet.

Daily Volume chart of WELCORP

Looking at WELCORP, we've seen a Increasing trend in its trading volume over the past week, which really tells us how active traders have been with this stock.

In terms of its price, WELCORP has been on a Upward path, giving us insights how its value changes in the market.

Based on this, the predicted sentiment for WELCORP is moderate bullish.

Tomorrow's Volume based share price Forecast for WELCORP

WELCORP's Volume is currently in a Increasing trend, and Price is in a Upward direction. Therefore, we can say the stock is in a moderate bullish trend. Volume trend strength over the last month compared to the last week is -43%.

Reversal detection for WELCORP

Predicted trend chart of WELCORP tomorrow for price forecast
WELCORP may reverse its trend from upside (Short term bearish outlook) and we can get target of ₹602 in morning tomorrow
Target 1 tomorrow617
Target 2 tomorrow621
Target 3 tomorrow629
 

Investferry’s trend analysis method detects short term overbought and oversold situations to identify reversal in stocks. Use this as reference for short term counter trend trades.

Combine this trend forecast with WELCORP's tomorrow's target prediction and you will have a base for what can be done in the upcoming trading session.

Based on where the stock opens tomorrow, if WELCORP opens on a positive note, our first target will be ₹619.52. If Target 1 is achieved, we will aim for Target 2 which is ₹629.23.

But if WELCORP falls below the average value of ₹608.83, you can enter a sell side position with target number 1 - ₹599.12 and second target - ₹588.43

WELCORP's Weekly Targets
1st Up Target 631.63
2nd Up Target 653.47
1st Down Target 574.88
2nd Down Target 539.97

As the week for WELCORP ended on bullish sentiments, we can expect further continuation of this sentiment. WELCORP's initial target will be 631.63 for the coming week if it continues to trade higher. But if it fails, we can see lower targets of 574.88 in the upcoming week.

Weekly OHLC Values
Open 571.00
High 618.55
Low 561.80
Close 609.80

Week for WELCORP started with an open price of 571.00, and the close was at 609.80. WELCORP reached the highest of 618.55 and dipped lowest up to 561.80 last week. This indicates a bullish sentiment for the week.

WELCORP full month swing targets
Monthly Up Target 1 688.38
Monthly Up Target 2 710.22
Monthly Down Target 1 518.13
Monthly Down Target 2 426.47

Targets of ₹688.38 can be expected to be reached in the coming month. Once WELCORP achieved this target, we can aim for the next upside target of ₹710.22.

WELCORP if fails to hold upside, down targets of ₹518.13 and ₹426.47 can be achieved by end of this month.

For complete three weeks if WELCORP is bullish, the stock may decline in the last week on the month as traders usually close their positions. So in this case, you should aim for weekly support level which will act as targets here.

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Summary

WELCORP is expected to reach the target of 619.52 in tomorrow's trading session.

After achieving the initial target in WELCORP, we will aim for higher targets of 629.23 tomorrow.

However, if WELCORP starts to trade below ₹608.83, then we will shift our focus to the sell side and aim for down targets of 599.12 and 588.43.